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Integrated Ventures Purchases WhatsMiner Equipment

Miner Hardware Maker Canaan Announced $10 Million worth Share Buyback
Miner Hardware Maker Canaan Announced $10 Million worth Share Buyback

Integrated Ventures, the company self-described as a group with “focus on blockchain and cryptocurrency sector,” has purchased WhatsMiner equipement, according to a press release.

The equipment it purchased from the group is:

  • Antminer S17Pro/56TH – 100 units (*)
  • Antminer S17Pro/73TH – 72 units (*)
  • Antminer Z11/138 – 5 units (*)
  • Antminer S19Pro/110TH – 2 units (*)
  • WhatsMiner M31/74TH – 110 units (**)

By December 15 of this year, the company will have purchased 395 units.

Speaking on the matter is Steve Rubakh, CEO of Integrated Ventures, who said:

“The Company is deploying recently raised capital for purchases of the mining equipment, driven by:

  • decrease in power and general operating costs
  • improved profitability and efficience of the mining equipment
  • recovery and recent performance of the cryptocurrency markets
  • significant BTC purchases, reported by major institutions
  • cryptocurrency sector’s maturity, positive developments and acceptance as a viable investment.

Estimated unaudited annual mining revenues, based on BTC price of $17,000 are tracking at $950,000+ vs actual revenues of $454,170 for year 2020.

Thus, subject to the equipment availability, the Company intends to execute purchases of the mining equipment, on bi-weekly basis, mainly relying on current and future cash flow. We expect to deliver revenue and profitability growth and see a great potential for the M&A driven business expansion opportunities, going forward.”

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